Brussels, 22/10/2012 (Agence Europe) - Songdo in South Korea will host the Green Climate Fund. The choice of location for the fund's Board of Directors was made on Saturday 20 October. The other candidate cities in the running were Bonn, Warsaw, Geneva, Mexico City and Windhoek.
Consensus was reached on the choice of Songdo, which will now be submitted for approval at the next Conference of Parties to the UN framework Convention on Climate Change (COP 18, Qatar, 26 November-7 December).
The Green Climate Fund aims to collect the funds that developed countries have agreed to provide for funding for climate development initiatives in developing countries ($100 million a year until 2020). This promise was made in Copenhagen during the COP 15 in December 2009. The fund has been operational since the Durban conference (COP 17 last year). (AN/trans/fl)